Government introduces a global reporting system to ensure multinationals meet the 15% minimum corporate tax rate.
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Author: Redaction
Fiscal model strengthens control of global minimum corporate tax
The Government has approved the reporting model for complementary tax information (GIR – Global Information Return), a tool that allows the Tax and Customs Authority (AT) to verify compliance with the global minimum corporate tax by large multinationals operating in Portugal. The document includes an example of the required structure, essential to ensure the correct application of the 15% minimum rate.
The order published in the Official Gazette establishes Model 63, which defines the format of the declaration required for the calculation and control of the complementary tax. The information is submitted electronically, via an XML file on the Tax Portal, and is considered valid at the moment of submission.
Extended deadline and complementary tax rules
The global minimum tax regime (IRC minimum global) also provides for the cancellation of the filing obligation when the information has already been submitted by the ultimate parent entity or a designated filing entity, within a framework of international cooperation between tax administrations. In such cases, central filing may apply. In June, the Government decided to extend the deadline for submitting the global minimum corporate tax declaration from 30 June to 30 September, giving multinational companies with turnover above 750 million euros more time. The measure applies to fiscal years ending between 31 December 2024 and 31 March 2025.
Implementation of the global minimum tax in Portugal
The 15% global minimum tax rate was approved in 2024 but only entered into force this year. In Portugal, the tax obligation applies only to large multinational groups that meet the size criteria defined under the global minimum tax regime.
According to sector data, only one US group operating in the country currently meets the turnover requirements, reflecting the limited number of companies affected. The measure is part of an international tax reform aimed at increasing the effective taxation of multinationals and reducing base erosion.
The global impact of the minimum tax is significant, with international estimates pointing to a substantial increase in corporate tax revenues worldwide, reinforcing the importance of coordinated implementation between countries.
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